SpiceHealth alleges ‘agreement violation’ by GeneStore India

New Delhi, July 9 (SocialNews.XYZ) SpiceHealth has approached the Indian Council of Medical Research (ICMR) and the Delhi Health Minister against GeneStore India and its promoter Anubhav Anusha for allegedly violating the non-compete and non-solicitation agreement between the two companies.

The two companies had entered into an agreement whereby SpiceHealth had acquired mobile labs, diagnostic kits, licenses, accreditations, equity shares, among others, from GeneStore by paying a considerable consideration. As per the agreement, GeneStore had agreed to observe non-compete obligations and had undertaken not to engage or participate in any venture or business concerning Covid-19 testing, SpiceHealth said in similarly worded letters.

However, it said that in violation of the agreement, GeneStore and its promoter have been engaging in Covid-19 testing, which is in contravention and breach of non-compete and non-solicitation obligations.

SpiceHealth has also served a legal notice to initiate criminal and civil action against GeneStore and its promoter.

"Under the definitive agreements, each of Anubhav and GIPL and/or entities related to them had agreed to observe non-compete obligations and have undertaken not to directly or indirectly engage or participate in any venture or business concerning Covid-19 testing," it said.

"However, around the last week of April 2021, we became aware that GIPL, along with Anubhav, were engaging in the business of Covid-19 testing, which is in contravention and breach of the nono-compete and non-solication obligations."

The company has asked the ICMR and the Delhi government to take appropriate action immediately in the matter keeping in view public health and safety.

Source: IANS